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On September 29, 2003, Manulife Financial of Canada announced its intent to acquire John Hancock for $10.4 billion. The merged entity would be led by D'Alessandro, but he would step down in June 2004. The sale also included a Canadian subsidiary of John Hancock, Maritime Life; it was integrated into Manulife's Canadian operations. [6] [7] [8]
Manulife Financial Corporation (French: Financière Manuvie) is a Canadian multinational insurance company and financial services provider headquartered in Toronto, Ontario. The company operates in Canada and Asia as "Manulife" and in the United States primarily through its John Hancock Financial division. [ 4 ]
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In 2001, telephone and internet banking was introduced to provide customers with 24-hour self-service. In 2003, the Business Advantage Account was launched - a high-interest account for small business owners. In 2007, Manulife Bank opened an office in Halifax, Nova Scotia. In 2009, Manulife Bank began offering Tax-Free Savings Accounts (TFSA).
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Standard Life first established a presence in Canada through John George Irvine, who took an agency in Quebec in 1834. [2] Spencer Campbell Thomson, son of the manager of the Standard Life Assurance Company, visited Canada in 1882 and approved a new Canadian head office in St James Street.